According to the Azerbaijani State Statistical Committee, the volume of construction work in Azerbaijan increased by 32.9 percent in January - July 2012 compared to the same period of last year.
In particular, the volume of construction work carried out by state-owned companies hit 24.5 percent of the total amount of work, while private companies - 75.5 percent.
About 73.6 percent of the total volume of construction work fall to the primary construction, reconstruction and expansion, 13 percent - overhaul, 2.4 percent - current repair, 11 percent - other construction work.
About 922,000 square meters of housing were commissioned for seven months of 2012, the Azerbaijani State Statistical Committee said.
The volumes of commissioned housing in Azerbaijan in Jan.-July decreased by 9.4 percent compared to the same period of 2011.
Primary residential market
According to the "Property Market Participants" public organization, prices in July decreased by 1 percent compared to the previous month and hit 802.3 manat per square meter
The prices reduced by 2.3 percent compared to last month and by 4.1 percent compared to the same period of last year.
Housing prices in Baku fell by 32.8 percent and amounted to 1,194 manat per square meter compared to the peak crisis period (September 2008) on the world financial markets. The decrease hit 5.4 percent compared to early 2012.
The number of new buildings offered on the market in July did not change and amounted to 421 as in the previous month. The reason was the low level of activity on the property market. The number of construction companies also remained unchanged and hit 150.
Secondary market
The price on the secondary housing market in Baku in July 2012 decreased by 0.6 percent and amounted to $980 per square meter.
The relative substantial reduction in price was observed in Sabail district (by 1.3 percent) during the month.
In July, the volume of supply on the secondary housing market increased by 0.5 percent compared to June. Up to 7,650 flats were put for sale on the market in July.
The share of Yasamal, Nasimi, Narimanov and Khatai districts in the portfolio of supply on the market amounted to 78.7 percent. The formation of the portfolio due to these four districts for a long period is connected with new buildings built in these districts on the market.
The research shows that the portfolio is mainly formed due to these four districts on the primary market.
The share of secondary housing on the market at a price lower than the average, amounted to 53.3 percent. The average room rate in the housing proposed on the secondary market in July was 2.79, the average price on each room - $44,130, apartments - $110,846.
The dynamics of housing purchase and sale transactions fell by 1.3 percent per month on the secondary market.
Building materials
The prices on the building materials market increased by 0.14 percent in July 2012 compared to June. The average price increased by 1.2 percent compared to early 2012 and by 2.2 percent compared to the same period of 2011.
The market share of prices on local building materials hit 53.6 percent.
In July, the monitoring was conducted on 37 items and 87 varieties of building materials.
The price on asbestos-cement slate in July was 27.1 percent due to the ban on imports and sales of asbestos-cement roofing slate, imported from Russia. Thus, the price on roofing slate was 5.35 manat in early 2012, while it was 6.8 manat in July.
The prices on drywall produced by "Gilan Holdinq" also increased. In June the price on 9.5-mm drywall was 9.3 manat, while in July it was 11.5 manat, 12.5-mm drywall in June cost 11.6 manat, in July - 13.5 manat. Higher prices on this building material, as well as a ban on its sale without accessory caused discontent among entrepreneurs and consumers.
The deficit of wood imports from Russia has not passed unnoticed. Thus, the price on one cubic meter of polished pine was 220 manat in June, while in July it rose by 2.3 percent to 225 manat.
The prices on drywall, wood, glass, roofing slate and other building materials increased in July.
The summary table shows construction materials. The prices on these materials increased (in percentages):
|
wood |
+2,3 |
glass |
+0,4 |
|
angle bar |
+3,2 |
drywall |
+16,8 |
|
roofing slate |
+27,1 |
The summary table shows construction materials. The prices on these materials decreased (in percentages):
|
Russian armature |
-0,2 |
Nails |
-0,1 |
|
Steel plate |
-0,5 |
Decorative stone |
- 0,3 |
Land market
The average price of one hundred square meters in Baku in July decreased by 0.7 percent - from $15,007 to $14,895.
In July, land price cheapened in many districts of Baku. The biggest drop in prices was observed in Yasamal district (1.1 percent). Binagadi and Garadagh districts were the most active on the land market. The most passive was Narimanov district.
According to the information, the most expensive land plot was offered for sale in Nasimi district at a price of $350,000 per one hundred square meters (a place near the tea factory), and the cheapest one was offered for sale in Absheron district - in settlement Pirekeshkul - at a price of $350 per one hundred square meters.
In July, Baku's land market offered for sale 746,17 land hectares, of which 80.4 percent were empty plots and the rest were uninhabited and old inhabited plots.
The term of land exposition on the market rose by 1.2 percent compared to the previous month.